The United Arab Emirates’ (UAE) commitment to producing the cleanest barrel of oil in the world as part of its efforts to achieve a strategic net-zero goal by 2050. The UAE Minister of Energy, Suhail Mohamed Al Mazrouei, emphasized the importance of reducing greenhouse gas emissions during the oil production process to achieve a “clean barrel.”
Key points include:
Sustainability in the Oil and Gas Sector:
- The UAE is focusing on producing the cleanest barrel of oil globally.
- The national oil company, ADNOC, has announced a sustainability strategy, aiming to achieve zero methane emissions by 2030 and net zero by 2045, five years ahead of the national target of 2050.
Green Energy Initiatives:
- The UAE aims to grow its green energy capacity to 19.8 gigawatts within the next seven years.
- Updated energy strategy includes ambitious targets such as tripling renewable energy capacity by 2030, increasing the share of clean energy to 30%, and improving energy efficiency by up to 45% by 2050 through investments of up to Dhs200 billion.
Infrastructure and Construction:
- Focus on developing low-carbon building materials.
- Implementation of sustainable construction practices with an emphasis on circular economy principles.
Transportation Sector:
- Plans to make 50% of vehicles on the road hybrid or electric by 2050.
- Expansion of the network of electric vehicle (EV) charging stations.
- Introducing a pricing mechanism to incentivize private sector investment in EV charging station infrastructure.
Maritime and Shipping Initiatives:
- Launching the Blue Pass to create a cluster of local and international maritime organizations.
- Commitment to establishing green shipping corridors through initiatives like the Clydebank Declaration.
Aviation Sector:
- Measures taken to develop sustainable aviation fuel and low-carbon aviation fuel for a more environmentally friendly aviation sector.
Overall, the UAE’s comprehensive approach encompasses various sectors, including energy, infrastructure, transportation, shipping, and aviation, to achieve its ambitious sustainability goals and contribute to global efforts in combating climate change.